LAS VEGAS (AP) _ MGM Resorts International (MGM) on Wednesday reported a fourth-quarter loss of $447.6 million, after reporting a profit in the same period a year earlier.
The Las Vegas-based company said it had a loss of 92 cents per share. Losses, adjusted for non-recurring costs and restructuring costs, came to 90 cents per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 96 cents per share.
The casino and resort operator posted revenue of $1.49 billion in the period, which also topped Street forecasts.
Six analysts surveyed by Zacks expected $1.47 billion.
For the year, the company reported a loss of $1.03 billion, or $2.02 per share, swinging to a loss in the period. Revenue was reported as $5.16 billion.
MGM shares have risen 16% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $36.47, an increase of 14% in the last 12 months.